I have a list of ranked items and the factors that the group used to create the rankings (like college rankings: 1, 2, 3...), and I'd like to reverse engineer their methodology.
Here's what I tried...
- I took the standard score of each factor (factor value - mean / standard deviation).
- I assigned coefficients to each factor and added up all these products to create a score.
- I used the scores to rank the items and compared these rankings to the real rankings, trying to minimize the difference.
- Rinse and repeat by changing the coefficients.
This is a crude method and I am very new to this. I was wondering what the best way is to figure out how this group weighted the factors to create the rankings.